States Continue to Increase Student Financial Aid Despite Tight Budgets
June 1, 2005
States awarded approximately $7.3 billion in total student financial aid in the 2003-04 academic year, an increase of more than 6 percent from the 2002-03 total aid amounts, according to the National Association of State Student Grant and Aid Programs (NASSGAP) 35th Annual Survey Report on State-Sponsored Student Financial Aid.
Grant aid continues to comprise the majority of state student financial aid, with the greater part (74 percent) of grants awarded being need-based. As a group, California, Illinois, Indiana, New Jersey, New York, Pennsylvania, and Texas awarded more than $2.7 billion in undergraduate need-based grant aid, collectively accounting for 64 percent of all need-based aid. South Carolina, Washington, D.C., Georgia, New York, and Indiana were cited as providing the largest amount of grant aid on a per-capita basis.
The NASSGAP report provides additional findings on a state-by-state basis as well as prior years of the study for funding comparisons. For other studies on state economics and finance, see the NACUBO research Web pages.
- NACUBO Expresses Concerns with ED Proposal to Expand Federal Financial Responsibility Rules
- IRS Proposes Modifications to 1098-T Reporting
- ED Policy to Require Annual Student Aid Compliance Audits Beginning FY17
- 2016 Planning and Budgeting Forum
September 19-20, 2016
- 2016 Big Opportunities for Small Institutions
September 20-21, 2016
- 2016 Tax Forum
September 25-27, 2016
- ON-DEMAND: The CBO's Role in Diversity and Inclusion on Campus
- ON-DEMAND: The Clery Act: Strategic Planning to Mitigate Institutional Risk
- ON-DEMAND: Title IX: Key Issues Surrounding Institutional Compliance
- ON-DEMAND: NACUBO Live! Higher Education Accounting Forum
- ON-DEMAND: Responsibility Center Management: Two Different Perspectives